scholarly journals The Impact of Fiscal and Monetary Policy on the Housing Market

1967 ◽  
Vol 32 (3) ◽  
pp. 384 ◽  
Author(s):  
Thomas H. Naylor
Keyword(s):  
Monetary Policy ◽  
Housing Market ◽  
The Impact ◽  
Fiscal And Monetary Policy

scholarly journals Macroeconomic Policies and Social Inclusion in the Developing World

2020 ◽  
Vol 4 (2) ◽  
pp. 114-129
Author(s):  
Zakia Batool ◽  
Arshad Ali Bhatti
Keyword(s):  
Monetary Policy ◽  
Panel Data ◽  
Social Inclusion ◽  
Developing World ◽  
Random Effect ◽  
Policy Framework ◽  
Estimation Methods ◽  
Macroeconomic Policies ◽  
The Impact ◽  
Fiscal And Monetary Policy

Many in the developing world face social exclusion and discrimination, preventing them from actively participating in society itself. Sound macroeconomic policies with a focus on stabilizing the price level and social outcomes can help to achieve social justice for marginalized people. This study empirically examines the impact of macroeconomic policies on social inclusion, considering specifically the coordination among them in promoting that social inclusion. It deals primarily with pure non-income dimensions of social inclusion such as education, and health, etc. Using annual panel data of 51 developing countries for the period 1995-2017 this study employs state-of-the-art panel data estimation methods – pooled estimation, fixed-effect, and random-effect models. To check for robustness and to handle the problem of endogeneity, the 2SLS technique has also been used. This study argues that a well-designed macroeconomic policy framework can do much more than just achieve economic goals. Results suggest that fiscal and monetary policy, through resource mobilization, can play a significant and positive role in promoting social inclusion. However, these fiscal and monetary policy actions are not independent; thus, a policy mix is required to achieve the target of an inclusive society.

scholarly journals Macroeconomic Implications of US Sanctions on Iran: A Sectoral Financial Balances Analysis

2019 ◽  
Vol 14 (3) ◽  
pp. 182-204
Author(s):  
Sivramkrishna Sashi ◽  
Sharma Bhavish
Keyword(s):  
Monetary Policy ◽  
Oil And Gas ◽  
Asset Accumulation ◽  
Fiscal Deficits ◽  
The Us ◽  
Macroeconomic Implications ◽  
Stock Flow ◽  
The Impact ◽  
Fiscal And Monetary Policy ◽  
Flow Consistency

AbstractIran is facing a severe macroeconomics crisis after the US (re)imposed sanctions on its oil and gas exports in May 2018, followed by additional sanctions on metal exports in 2019. Its exports have collapsed triggering a contraction of the economy along with accelerating inflation and depreciating currency. Using the sectoral financial balances (SFB) model, we study the interrelationship between several macroeconomic parameters maintaining stock-flow consistency across time and sectors of the economy. Fiscal and monetary policy cannot reverse the consequences of the sanctions although fiscal deficits as a percentage of GDP will see a rise to accommodate the domestic private sector’s desire to accumulate financial asset accumulation. The lack of a strong monetary policy mechanism in Iran may, however, be unable to quell the impact of expansionary fiscal policy on inflation and depreciating rial. Given the limited macroeconomic policy options open to Iran in dealing with the crisis Iran, the only option may be political – a return to the negotiating table with the US.

scholarly journals Impact of fiscal and monetary policy on economic growth in Vietnam

2022 ◽  
Author(s):  
Le Thanh Tung
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Impulse Response Functions ◽  
Macroeconomic Policies ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Johansen Cointegration Test ◽  
The Impact ◽  
Fiscal And Monetary Policy

This paper uses the Johansen cointegration test and the Vector Error Correction Model (VECM) to study the impact of fiscal and monetary policy on economy growth in Vietnam during the period from quarter I/2004 to quarter II/2013. The results showed the cointegration relation between the macroeconomic policies and economic growth. Besides, the variance decomposition and impulse response functions from VECM model showed the impact of the two policies on economic growth were limited, in which the impact of the monetary policy on growth is greater than that of the fiscal policy on growth. Subsequently, the paper provides some recommendations to improve the efficiency of the implementation of these policies in Vietnam.

Political economy of central-bank mandates in developing countries

2021 ◽  
pp. 1-20
Author(s):  
Zhandos Ybrayev
Keyword(s):  
Monetary Policy ◽  
Unemployment Rate ◽  
Inflation Targeting ◽  
Developing Economies ◽  
Emerging Market ◽  
Unemployment Rates ◽  
Inflation Volatility ◽  
Unemployment Volatility ◽  
The Impact ◽  
Fiscal And Monetary Policy

In this paper, I explain theoretically the coordination and conflict scheme of fiscal and monetary policy workings, and then empirically assess the effect of both inflation-targeting and non-inflation-only targeting policies on inflation and unemployment rates. I employ a difference-in-difference method to estimate the impact on inflation, the unemployment rate, and their volatilities in both 10 inflation-targeting (single-mandate) and 11 non-inflation-targeting (multiple-mandate) countries specifically from the sample of developing economies over the period from 1998 to 2018. Our key findings show that while the inflation-targeting countries effectively present a reduction in inflation and inflation volatility, the effects on the unemployment rate are negligible, while unemployment volatility is higher in the period 1998–2008. Finally, the paper argues that the unemployment rate should be used as a natural second target in a typical emerging-market economy case.

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